We strive to provide consistent performance and to maximize risk-adjusted return by investing in large-cap growth stocks at a reasonable price. Because we understand that frequent trading often contributes to underperformance, we maintain a low portfolio turnover range. Our trailing 12-month turnover has ranged from 2% - 30% for the last five years.

• We buy and hold companies we believe possess attractive short and long-term growth potential.
• We focus on large-cap stocks to satisfy our liquidity requirements.
• We seek to invest in established market leaders with a history of integrity.
• We place priority on the efficiency/effectiveness of a company's products.

We strive to provide consistent performance and maximize risk-adjusted return by investing in reasonably priced large, growth-oriented companies.

After studying research on trading practices, we have concluded that high trading activity does not contribute to outperformance, and many times it is associated with underperformance. Thus, we strive to invest in companies that have bright short-term as well as long-term potential. Growth stocks at a reasonable price fit these criteria rather well. For both liquidity and risk management purposes we focus primarily on large-cap stocks.